Ofgem failing the common good - Flint

Commenting on the Ofgem announcement of reforms to the energy market, Caroline Flint said:

“This was Ofgem’s big opportunity to stand up for the common good and they have failed again.

“Instead of reforms to help the many, they have tweeked to help just a few.

“The protection for pre-payment meter customers is welcome but they are just one in seven consumers.

“For the vast majority, the 70% who have been paying over the odds on standard variable tariffs, this announcement promises only more calls and emails from other energy companies.

“The energy market needed a jolt, not a nudge. A protected tariff, even for a limited time, aimed at the majority of consumers, would have addressed the shortcomings of a failing market. At a time when consumers are also going to be paying on top of their bills for nuclear, for Smart meters and for renewable energy, this adds to the demands that they pay a fair price for their energy.

Caroline Flint’s submission to the Competition and Markets Authority review can be found here.